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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: Maher Sid-Ahmed who wrote (1846)	7/27/1998 2:46:00 PM
From: Justin Curran	Respond to of 5390

I agree the market has over done this big time. But, Nokia did increase sales 50% over the same period Ericsson posted 0% growth. The y did beat estimates but not by the amount you state becuase Ericsson included the sale of a Turkish cellular unit(Turkcell). Analyst's did not use this in their estimates. Ericsson's CEO claims that they are seeing 23-25% annual price pressure on mobile phones and stressed that the market is highly competitive and there is also considerable downward price pressure on cellular infrastructure and terminals. So overall the tone of the call was quite negative. I guess the market is reading a lot into this. SG Cowen Cut ERICY to Neutral from Buy NOKA to Buy from Strong Buy Merrill Lynch thinks NOKA's shares will outperform ERICY for the remainder of the year. They have a medium-term neutral, long term strong-buy on ERICY